Sensex, Nifty plunge as Trump’s April 2 tariff fears hit markets
Stock markets plunged on April 1 as the new fiscal year began. Sensex fell over 1,000 points before recovering slightly, while Nifty dropped nearly 200 points. IT, financial, and metal stocks suffered the most.
By 9:15 AM, Sensex fell 572 points to 76,842.77, and Nifty dropped 125 points to 23,394. By 10:45 AM, Sensex declined 868 points to 76,546.38, and Nifty lost 183 points to 23,336.25. Market jitters grew as President Trump’s reciprocal tariffs, starting April 2, threatened key economies, including India.
Infosys led early losses, plunging 2.25%, followed by NTPC and Bajaj Finance. The IT Index dropped 1.57%, with financial services and metal sectors also in red. Markets remained cautious after the last trading session ended in losses on March 28.
Market expert Akshay Chinchalkar noted that Nifty’s retreat appeared temporary, as the 23,402 support level held firm. He highlighted seasonal bullish trends, with the index rising 70% of the time in this week historically.
IndusInd Bank fell the most at 3.57%, followed by Mahindra & Mahindra and HCL Technologies. Meanwhile, 11 out of 30 Sensex stocks closed in the green. The Nifty Media Index suffered the worst sectoral loss at 2.29%.
Foreign Institutional Investors (FIIs) sold equities worth ₹4,352.82 crore, while Domestic Institutional Investors (DIIs) bought a net ₹7,646.49 crore.
Looking ahead, global economic data will shape market sentiment. Key releases include the US and India’s S&P Global Manufacturing PMI, US employment data, and jobless claims. Investors will closely monitor these reports for insights into inflation, Federal Reserve policy, and market direction.
